Entropy Technologies LP Reduces Position in Blue Bird Co. (NASDAQ:BLBD)

Entropy Technologies LP lowered its stake in Blue Bird Co. (NASDAQ:BLBD) by 50.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,052 shares of the company’s stock after selling 7,300 shares during the period. Entropy Technologies LP’s holdings in Blue Bird were worth $338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BLBD. Covestor Ltd purchased a new stake in Blue Bird in the first quarter valued at approximately $29,000. Macroview Investment Management LLC purchased a new stake in shares of Blue Bird in the 2nd quarter valued at $29,000. nVerses Capital LLC acquired a new stake in shares of Blue Bird in the third quarter worth $53,000. Quarry LP raised its holdings in shares of Blue Bird by 43.9% during the second quarter. Quarry LP now owns 1,174 shares of the company’s stock worth $63,000 after purchasing an additional 358 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Blue Bird by 1,227.7% during the third quarter. Signaturefd LLC now owns 1,580 shares of the company’s stock valued at $76,000 after purchasing an additional 1,461 shares during the period. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Blue Bird Stock Down 5.2 %

BLBD stock opened at $36.37 on Friday. The stock has a market capitalization of $1.18 billion, a P/E ratio of 12.00, a P/E/G ratio of 0.20 and a beta of 1.62. Blue Bird Co. has a 52 week low of $17.79 and a 52 week high of $59.40. The firm has a 50-day simple moving average of $45.16 and a 200-day simple moving average of $48.45. The company has a quick ratio of 0.66, a current ratio of 1.40 and a debt-to-equity ratio of 0.66.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BLBD shares. Barclays increased their price target on Blue Bird from $43.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Bank of America boosted their price target on Blue Bird from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC dropped their price objective on shares of Blue Bird from $72.00 to $66.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. BTIG Research assumed coverage on shares of Blue Bird in a research note on Wednesday, October 9th. They issued a “buy” rating and a $55.00 target price for the company. Finally, DA Davidson raised their price target on shares of Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Blue Bird has a consensus rating of “Moderate Buy” and a consensus target price of $60.14.

Insider Buying and Selling at Blue Bird

In other Blue Bird news, President Britton Smith sold 2,508 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.81, for a total value of $124,923.48. Following the transaction, the president now directly owns 80,617 shares of the company’s stock, valued at $4,015,532.77. This trade represents a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Phil Horlock sold 16,080 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.34, for a total value of $761,227.20. Following the transaction, the chief executive officer now owns 331,971 shares in the company, valued at approximately $15,715,507.14. This represents a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,255 shares of company stock valued at $2,580,075 over the last quarter. 2.10% of the stock is currently owned by insiders.

Blue Bird Company Profile

Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.